US President Donald Trump has announced a significant policy proposal, calling for a one-year cap on credit card interest rates at 10%, to take effect starting January 20, 2026. This announcement was made via a social media post on Truth Social and corroborated by the White House. Trump justified the move by stating that Americans are 'being ripped off' by credit card companies that charge exorbitant rates, often ranging from 20% to 30% or more. The proposed cap is intended to improve affordability for American households burdened by mounting credit card debt. While the announcement has been widely reported by numerous credible news outlets, details regarding the implementation and enforcement of this cap remain largely unclear. Analysts and lawmakers suggest that a nationwide interest rate cap would likely require congressional approval or significant regulatory coordination with financial agencies, which presents a potential hurdle. Historically, bipartisan concerns about high credit card rates have led to various legislative proposals, but none have yet become law. The news has also resonated beyond US borders, particularly in India. A related article highlights that Trump's proposal raises 'hopes, and questions for India,' where credit card interest rates can be as high as 42% per annum, drawing attention to consumer protection in different global contexts. This initiative marks the anniversary of Trump's second term as US president and fulfills a campaign promise from the 2024 election.